With 5.77% CAGR, Enterprise Networking Market Size to Reach US$ 80.7 Billion 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Enterprise Networking Market by Component (Product, Services), Deployment Mode (Cloud-based, On-Premises), Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), End User (Aerospace and Defense, Education, Media and Communication, Healthcare, BFSI, Transportation and Logistics, and Others), and Region 2023-2028." The study provides a detailed analysis of the industry, including the global enterprise networking market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the enterprise networking market?

The global enterprise networking market size reached US$ 57.87 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.77% during 2023-2028.

What is enterprise networking?

Enterprise networking refers to the virtual, physical, or logical connection infrastructure that allows systems and applications to communicate, share information, run services and programs, and analyze systems performance. It establishes connections between several devices, such as computers, servers, routers, switches, and wireless access points within an organization. It also allows the smooth transmission of data and collaboration across various departments and locations, including wide area networks (WANs), local area networks (LANs), virtual private networks (VPNs), and cloud-based networks. Additionally, it provides secure and dependable connectivity, allows access to centralized data, applications, and services, enhances productivity, optimizes resources, and supports digital transformation. Consequently, enterprise networking is widely adopted in aerospace and defense, education, transportation and logistics, media and communications, healthcare, banking, financial services, and insurance (BFSI) sectors.

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What are the growth prospects and trends in the enterprise networking industry?

The market is primarily driven by the expanding information and technology (IT) sector. Additionally, rapid urbanization, the growing population, and rising digitization are contributing to the market growth. In line with this, the increasing adoption of digital technologies in organizations due to the rising number of cyber-attacks, the growing bandwidth requirement, and a shift towards wireless systems are influencing the market growth. Moreover, various technological advancements, such as the incorporation of fifth-generation (5G), edge computing, and the Internet of Things (IoT), represent another major growth-inducing factor. Besides this, the inclination toward cloud-based services to seamlessly connect on-premises infrastructure with cloud environments is accelerating the adoption rate. Along with this, the widespread adoption of bring-your-own-device (BYOD) policies and the popularity of hybrid and remote work models are propelling market growth. Apart from this, the enterprise network market is growing at different rates in numerous regions, with North America being one of the largest markets due to the availability of advanced information and communication technology (ICT) infrastructure, the presence of several key players, and the emergence of various technologies such as virtualization, DevOps, network analytics and cloud networking across the region.

Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in February 2020, Cisco System with NEC Corporation announced offering networking equipment to enhance supply chain management and strengthen the verification, authenticity, and monitoring throughout the network system. In addition, in April 2019, juniper networks announced the latest cloud-delivered version of SAD WAN solutions, which allow the organization to manage wide area network (WAN) infrastructure and branches of Wifi and local area network (LAN) networks. Furthermore, the integration of machine learning (ML) and artificial intelligence (AI) to support real-time data processing, low-latency communication, and efficient data transfer is also creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

Product
Services

Breakup by Deployment Mode:

Cloud-based
On-Premises

Breakup by Organization Size:

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

Breakup by End User:

Aerospace and Defense
Education
Media and Communication
Healthcare
BFSI
Transportation and Logistics
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Arista Networks Inc.
Broadcom Inc.
Cisco Systems Inc.
Dell Technologies Inc.
Extreme Networks
Fortinet Inc.
Hewlett Packard Enterprise Development LP
Huawei Technologies Co. Ltd.
Juniper Networks Inc.
Netscout Systems Inc.
Nokia Corporation
Riverbed Technology

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/enterprise-networking-market

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